NEW YORK CITY—Theory Holdings, LLC, a prominentcontemporary fashion apparel and accessory design firm, has signeda long-term lease for 79,000 square feet at the newly renamed2 Gansevoort St. office building owned by theWilliam Kaufman Organization in the Meat PackingDistrict.

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The new tenant will occupy a portion of the ground floor and theentire second, third and fourth floors of the building situated atthe intersection of West 13th, Horatio and Gansevoort streets inthe Greenwich Village Historic District at 320 West 13th St.

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Theory Holdings expects to relocate from its current quarters at40 Gansevoort St. in the first quarter of 2015. Founded in 1997 byAndrew Rosen and Elie Tahari,Theory is a contemporary fashion label that sells men's and women'sclothes and accessories. The company maintains 16 retail stores and13 outlet stores in the United States. The label is sold at majorhigh-end retailers such as Bloomingdale's, Lord & Taylor,Nordstrom, Saks Fifth Avenue, Neiman Marcus and Barney's New York.Theory is owned by Fast Retailing of Japan.

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2 Gansevoort was built in 1912 and originally designed as awarehouse and trade school and was acquired by the William KaufmanOrganization in 1948. As the owner/developer's first purchase inthe Meatpacking District, it was a notable addition to thecompany's portfolio of ground-up Class A buildings, which currentlyincludes 777 Third Ave., 767 Third Ave., 437 Madison Ave., 747Third Ave., and 77 Water St.

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Michael Lenchner, vice president and directorof leasing for Sage Realty Corp., the leasing andmanagement division of the William Kaufman Organization, says thetransaction with Theory comes on the heels of an ongoing capitalimprovement program that is revitalizing the landmarked building at2 Gansevoort. The program has included renovations and upgrades tothe building's lobby, a complete window replacement, elevators,access management system and main entrance.

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“Combining style and state-of-the-art features, moving to 2Gansevoort allows Theory to showcase their contemporary brand in abuilding with history and character while maintaining theirpresence in the Meatpacking District,” says Lenchner. “Thebuilding's prized location along the Silicon Alley corridor placesit at the epicenter of New York City's booming creative andtechnology hub.”

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Brian Waterman and LanceKorman of Newmark Grubb Knight Frankrepresented the tenant in the long-term transaction, while Lenchnerrepresented the building's ownership in-house.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.